Glaukos price target raised to $141 from $125 at Truist

Truist raised the firm’s price target on Glaukos to $141 from $125 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results in the MedTech sector. Across the market cap, there continues to be crowding in the strongest growth stories with a widening performance and valuation gap between “haves” and “have nots”, but while this could create some profit-taking, dips in these names will get bought if fundamentals are moving in the right direction, the analyst tells investors in a research note. For Glaukos, its current valuation premium relative to the peer group is justifiable given its premium gross margin and the size of the total addressable markets that the company participates in, the firm added.